Aberdeen Group plc Buys 21,852 Shares of Alkermes plc $ALKS

Aberdeen Group plc increased its holdings in Alkermes plc (NASDAQ:ALKS) by 13.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,719 shares of the company’s stock after purchasing an additional 21,852 shares during the period. Aberdeen Group plc owned 0.11% of Alkermes worth $5,113,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vontobel Holding Ltd. lifted its holdings in Alkermes by 18.5% in the 2nd quarter. Vontobel Holding Ltd. now owns 47,020 shares of the company’s stock worth $1,345,000 after purchasing an additional 7,347 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in Alkermes by 2.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 48,462 shares of the company’s stock worth $1,386,000 after purchasing an additional 1,030 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Alkermes by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 77,000 shares of the company’s stock worth $2,203,000 after purchasing an additional 400 shares in the last quarter. KLP Kapitalforvaltning AS lifted its holdings in Alkermes by 8.2% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 74,200 shares of the company’s stock worth $2,123,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Alkermes by 17.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,370 shares of the company’s stock worth $182,000 after purchasing an additional 929 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALKS. HC Wainwright reissued a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a report on Tuesday, September 9th. Wells Fargo & Company raised Alkermes to a “strong-buy” rating in a report on Wednesday, September 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a report on Tuesday. Needham & Company LLC set a $43.00 price objective on Alkermes in a report on Tuesday, September 9th. Finally, The Goldman Sachs Group initiated coverage on Alkermes in a report on Tuesday, July 15th. They set a “buy” rating and a $43.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Alkermes currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Alkermes Price Performance

Shares of ALKS opened at $30.80 on Friday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.74 and a beta of 0.54. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $36.45. The business’s 50 day simple moving average is $29.06 and its 200-day simple moving average is $29.15.

Alkermes (NASDAQ:ALKS) last released its earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. The firm had revenue of $390.66 million for the quarter, compared to the consensus estimate of $343.20 million. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, sell-side analysts expect that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Buying and Selling at Alkermes

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $31.53, for a total transaction of $283,770.00. Following the transaction, the executive vice president owned 73,740 shares of the company’s stock, valued at approximately $2,325,022.20. The trade was a 10.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

About Alkermes

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.